Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 29.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,571 shares of the biopharmaceutical company’s stock after purchasing an additional 1,484 shares during the quarter. Inspire Investing LLC’s holdings in Cytokinetics were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of Cytokinetics by 8.0% during the second quarter. Amalgamated Bank now owns 55,397 shares of the biopharmaceutical company’s stock valued at $3,001,000 after purchasing an additional 4,099 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in Cytokinetics by 141.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 15,927 shares of the biopharmaceutical company’s stock worth $863,000 after buying an additional 9,336 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Cytokinetics by 12.3% in the second quarter. Mutual of America Capital Management LLC now owns 65,645 shares of the biopharmaceutical company’s stock worth $3,557,000 after buying an additional 7,208 shares during the period. Edgestream Partners L.P. bought a new stake in Cytokinetics in the second quarter valued at $858,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Cytokinetics by 28.7% during the second quarter. Renaissance Technologies LLC now owns 470,967 shares of the biopharmaceutical company’s stock valued at $25,517,000 after acquiring an additional 105,000 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CYTK. JPMorgan Chase & Co. increased their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Truist Financial cut their price target on Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. B. Riley decreased their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Cytokinetics Stock Performance

Shares of CYTK opened at $53.77 on Friday. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25. The stock has a market capitalization of $5.64 billion, a P/E ratio of -9.96 and a beta of 0.77. The firm’s 50 day moving average is $56.22 and its 200-day moving average is $59.24. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter last year, the business posted ($1.34) EPS. The business’s revenue was down 71.3% compared to the same quarter last year. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $53.72, for a total value of $392,156.00. Following the completion of the transaction, the executive vice president now owns 133,004 shares in the company, valued at approximately $7,144,974.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $53.72, for a total value of $392,156.00. Following the completion of the sale, the executive vice president now owns 133,004 shares in the company, valued at approximately $7,144,974.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $54.05, for a total transaction of $621,575.00. Following the transaction, the chief executive officer now owns 405,145 shares in the company, valued at $21,898,087.25. The disclosure for this sale can be found here. Insiders have sold 107,837 shares of company stock valued at $6,018,383 over the last three months. Company insiders own 3.40% of the company’s stock.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.